Abstract

The Arctic is a region of political interests of the countries. This region will determine the vector of economic and geopolitical development of the planet over the next century. Therefore, it’s believed that this century will be the «century of the Arctic». Natural resources and economic potential of the Arctic region plays an important role in the development of the national economy and sustainable development of the regions situated in that zone. Conservation and sustainable development of the Arctic is a necessary condition for its further successful development. The Arctic has a universal global value of its unique nature and a great inflence on the planetary environment. The article is dedicated to review the development of the Arctic region in the conditions of the modern geopolitical transformations. The author pays attention to a new stage of development of international relations in the Arctic, which is characterized by complex actions of many sovereign states and non-state actors towards to the region. Due to the climate warming and global processes in the world, the whole international system of governance in the Arctic is changing. This is the result of close geopolitical and economic ties of the region with the world. The transformation of the modern world system makes it necessary to assess the effectiveness of the cooperation among states in the management and development of this region, as well as to consider the possibility of improving them.